Eternity Law International — News — Cryptocurrency Market Inspection

Cryptocurrency Market Inspection

Published:
March 7, 2018

The SEC – The US Securities and Exchange Commission has initiated massive audits of the cryptocurrency business. The Wall Street Journal published this information.

The source, who wished to remain anonymous, reported that the commission’s representative sent an official request to many companies active in cryptocurrencies in the United States virtual market. The agenda states that all firms are should provide data on the method of implementation and mediation in the ICO.

It is these data that cannot fall under the category of “placement of securities”. Before the inspection the officials of the commission sent out many notices to the above companies. The letter says that the implementation of tokens may violate some laws.

J. Clayton, chairman of the commission, personally promised to conduct a thorough examination of all firms that raise additional capital. He believes companies are counting on skyrocketing growth in virtual currencies. Earlier, the commission has already carried out checks in similar companies, negatively affecting their work.

Dan Gallagher, a spokesman for Symbiont, believes this is just the tip of the iceberg. According to him, we are talking about total monitoring of the virtual currency market.

While the US Stock Exchange and Central Bank Commission is suspicious of virtual money, state-level laws will try to reduce market control. An example of this was Wyoming, where senators are submitting for consideration a bill that can totally exclude cryptocurrency from the databases for calculating property taxes.

In Georgia and Arizona, bills have been proposed, thanks to which taxes can be paid using tokens.

The regulator may also accept a relaxation of regulation for existing ICOs.

You could be interested

PSP license in Malta

Malta has experienced a substantial rise in the number of PSPs authorized there in recent years. As a result, the island has emerged as a top location for financial businesses. The specialists at Eternity Law International are eager to assist clients with obtaining a PSP license in Malta. Legal Basis Maltese law effectively supervises the...

Company registration in Montenegro

Compared to other European countries, Montenegro offers the easiest conditions for opening a company. The country seeks to attract foreign investors, therefore it is trying to create a favorable economic and regulatory framework for external entrepreneurs. Benefits of company establishing in Montenegro The crime rate in Montenegro is quite low. Favorable atmosphere for investment activities....

Company registration in Bangladesh

For foreign investors, Bangladesh is one of the most attractive jurisdictions because of the following: Due to the above factors, investors who want to freely cooperate with the Asian, first of all, the Chinese, market seek to create a company in Bangladesh. Bangladesh is offshore, which makes it possible for any entrepreneur, regardless of residency,...

Hong Kong Fintech Week 2023

This years Financial Technology Week marked a significant juncture, providing insights into the trajectory of a dynamic financial future characterized by unprecedented policy and regulatory announcements. This comprehensive exploration delves into the pivotal developments that unfolded during this groundbreaking event. Securities and Futures Commission (SFC) Initiatives: Tokenised Securities-Related Activities: The SFC’s Circular on Tokenised Securities-Related...

New booming crypto scene coming: blockchain in Asia

Cryptocurrency is experiencing a new era of growth, particularly in Asia. It’s fascinating to witness the rise of five countries from this region in the Global Crypto Adoption Index. Vietnam and the Philippines claim the top two spots, with India, Pakistan, and Thailand also making impressive strides in 4th, 6th, and 8th place respectively. This...

Best forex brokers in Cayman Islands in 2023

When choosing a currency broker in the Caymans or other locations, it’s important to focus on the following aspects: Some popular FX brokers with a presence in the Caymans include: Remember to review and compare the particularity, favors, and trading circumstances offered by different depositors to find the one that aligns with your selling preferences...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank:

Zurich

Dreikonigstrasse, 31A, Stockerhof
+41 435 50 73 23

Kyiv

Baseina street, 7
+38 094 712 03 54

London

Grosvenor Gardens, 52
+44 203 868 34 37

Washington

1629 K St. Suite 300 N.W.
+1 (888) 647 05 40 Toll Free

Vilnius

Gediminas Avenue, 44A
+370 52 11 14 32

Tallinn

Kesklinna linnaosa, Tuukri 19
+372 880 41 85

Edinburgh

Lochrin Square, 1
+44 203 868 34 37

Nicosia

Jacovides Tower, 5 floor
+371 665 550 51

Riga

Esplanade, 7 floor
+371 665 550 51

Hong Kong

18 Harbour Road, 35/F, Central Plaza, Wanchai
800938622 Toll Free

Singapore

Level 42, Suntec Tower Three, 8 Temasek Boulevard
+6531594300

Sydney

20 Martin Place
+61 2 888 00 365

Porto

2609 Avenida da Boavista
+351 800 500 206 Toll Free

Tbilisi

Revaz Tabukashvili Str., N 45, area N 7
+995706070360